[ojloaf]

https://pub-hamilton.escribemeetings.com/filestream.ashx?DocumentId=492147

In front of General Issues Committee for an updated tax increment grant for the conversion to a rental housing development. Also has a new description of the project, which has seen a reduction in units and a (slight) increase in parking:



This shows continued activity here.. Looks like Emblem is pushing to get started on it.

Amazing thanks for the insight. It's not always obvious what is happening behind the scenes

 

[Chris R.]

Glad to see this one continue moving forward. For anyone that doesn't want to read the property grant program report, the pre-development tax is $85,569.00/year, and post-development tax is $965,502.00. As a result of the way the tax system works this doesn't increase tax revenue, but because it's on existing urban land, it will save existing property tax payers.

Based on studies from other areas, Ottawa being one of the better local examples, each new infill home in an established urban area yields an operating surplus of $606 per person, per year because it utilizes existing roads, transit, and water pipes.

Source:

Fix City Finances 9: Stop the Sprawl to Save the Budget

If your city is struggling with the basics, it's because sprawl is eating up more and more of the budget.

fixyourcity.substack.com

https://www.cbc.ca/news/canada/ottawa/urban-expansion-costs-menard-memo-1.6193429#:~:text=Hemson%20found%20it%20now%20costs,%2456%20from%20eight%20years%20ago.